For many organizations, cash management and collection is hard during the best of times. Between high team turnover and constantly shifting business and economic environments, it’s easy for teams to find themselves falling behind.
Did you know that Sidetrade isn’t just a provider of AI-driven order-to-cash solutions? Sidetrade also offers its cash collection BPO (Business Process Outsourcing) team. Sidetrade’s cash collection BPO team are experts in its innovative order-to-cash technology as well as performing cash collection activities.
By outsourcing all or part of your accounts receivable management to Sidetrade’s cash collection BPO team, you can expect to see increased collections performance and reduced DSO, AND increased visibility in credit and collections management and monitoring.
Below, we’ve outlined a few scenarios that make sense to consider outsourcing.
You’re Growing Fast
Is your company going through an economic boom? Congratulations! But probably unbeknownst to executives, your accounts receivable team is most likely drowning under the pressure to onboard new customers, invoice them timely, collect payments, and reconcile revenue. While top-line revenue may be looking great, in this scenario, bottom-line profit margins will surely suffer. But outsourcing all or part of your portfolio to a BPO could reverse that outcome and ensure cash is getting collected efficiently.
You Just Acquired Another Company
You just acquired another company. How will you service your new customers without additional headcount? The answer is by outsourcing. Our team of multilingual specialists and experts are well-trained in cash collection and dispute handling and will work alongside you in line with your specific practices to fit seamlessly into your business, allowing your team to focus on core activities.
The Economic Environment Just Changed
As the world deals with crisis after crisis, the organizations that survive are going to be the ones that are effective and efficient at cash collection. In this scenario, it would be great to concentrate the BPO efforts on the uncontacted part of your portfolio, allowing you to increase your coverage and collect cash that would otherwise fall through the cracks.
If your finance team is experiencing slow cash flow generation or scalability challenges, you might consider outsourcing your cash collection and dunning activities to a BPO.
Sidetrade’s cash collection experts:
- Provide immediate support to your busy accounts receivable team with a scalable process that allows for immediate performance improvement with 100% focus on collections
- Reduce DSO, increase cash flow and continue business as usual with increased operational efficiency and flexibility without resorting to increasing headcount
- Provide support and business improvement recommendations to help you get on track and meeting your cash collection goals